GP Petroleums Ltd Approves ₹130 Cr Fundraise via NCDs/OCDs

GP Petroleums Ltd's Board has approved a strategic fundraise of up to ₹130 Crores through the issuance of Non-Convertible Debentures (NCDs) and Optionally Convertible Debentures (OCDs). The company plans to issue up to 300 NCDs aggregating up to ₹30 Crores for 36 months and up to 1,000 OCDs aggregating up to ₹100 Crores for 18 months, both with a face value of ₹10 Lakhs. These instruments will be issued to RevX Special Credit Opportunities Fund II on a private placement basis. The proceeds will be utilized to fund ongoing business expansion and working capital requirements. The NCDs and OCDs will carry a coupon rate of 13% per annum, compounded monthly and paid quarterly, with an additional 1.5% coupon on the deemed date of allotment. The OCD issue is subject to statutory approvals, including shareholder consent.